Elon Musk Plans to Open New University in Texas, Focusing on STEM Education

Tesla and SpaceX founder Elon Musk is planning to establish his own university in Austin, Texas, according to tax filings.

The billionaire has reportedly allocated $100 million to his latest charity, The Foundation, to open the school, which will initially enroll 50 students and grow over time, Bloomberg News first reported.

The institution will at first serve as a primary and secondary school and will be focused on subjects such as science, technology, engineering, and mathematics (STEM).

After becoming entirely operational, the school is expected to shift the main focus towards establishing itself as a university. As the filing states, the charity may eventually expand its operations to transform the institution into a university providing education at the highest level.

The new institution will then apply for accreditation from the Southern Association of Colleges and Schools Commission on Colleges. Musk’s new university is yet to be named, Erudera.com reports.

As reported, the university’s financial support will come from tuition fees and donations, possibly from Musk’s charity, in which he invested $2.2 billion last year.

Although the institution aims to be tuition-free, there may be instances where it will implement tuition fees, and in those cases, scholarships will be available for those in need.

“The school does not want the inability to pay tuition or fees to be a barrier for students. Thus, if a student is admitted to the school, tuition and financial support will be provided to the extent of available resources,” the tax filing says.

The document states that admission to the school will be based on merit and that admission will not be guaranteed to individuals affiliated with the foundation, such as trustees, officers, employees, or their family members.

Musk’s initiative to establish a new university in Austin comes just as the city is becoming popular as a bigger education center. Austin houses the University of Texas and several other universities, including the new start-up university, the University of Austin, which is expected to officially open its doors to students in the fall of 2024.

Elon Musk had previously mentioned the idea of opening a new university. In 2021, he said he was considering starting a new university called Texas Institute of Technology and Science.

“Am thinking of starting a new university: Texas Institute of Technology & Science,” Musk posted on Twitter in 2021, now known as X.

At that time, it was unclear whether the post was a joke.

In 2020, Musk moved from California to Austin, and a year later, Tesla’s headquarters were also moved to the city. This decision came after Musk expressed dissatisfaction with California’s COVID-19 safety rules amid the COVID-19 pandemic.

© Kathy Hutchins | vecteezy.com